As mentioned working with a real estate professional is recommended to get accurate comparables and values to help determine market value. Fair market value typically refers to what buyers are willing and able to pay - there should be appropriate adjustments made in comparision to that particular property based on the condition of the property as well.
Appraised value is important too and will play a role in you obtaining the necessary financing. You need to note whether some of the comps were sold "as is" and/or were out-dated compared to the home you're interested in.
Unfortunately, we don't know all the circumstances. Since you have seen this home - I'm assuming you have already been pre-qualified or approved for this price range. I would suggest offering the seller what you feel comfortable paying for the property - if the seller feels that's too low, they'll counter or just reject the offer. Your perceived value of the property should be considered too!
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The way to arrive at the fair market value of a home is to do a study of the recently sold units and under contract units that are similar to the home in question. Features such as amounts of beds, baths, style, square footage and so on should be similar.
I would not suggest using the condos that are selling to compare against a home sale. I believe you are referring to the condos in Mill Ponds and Point de Jardin. Including them in your consideration will not give you an accurate price.
Artyom and Natasha
Home prices are just starting to level off and in some areas prices are starting to rise a bit. The only way to truly determine fair value is to have a local professional do the analysis.
A local real estate professional will be able to provide you with reliable information to support your needs.